Hurco Companies (NASDAQ:HURC) Posts Earnings Results

Hurco Companies (NASDAQ:HURC) released its earnings results on Friday. The scientific and technical instruments company reported ($0.54) EPS for the quarter, FiscalAI reports. Hurco Companies had a negative net margin of 8.47% and a negative return on equity of 7.53%. The business had revenue of $42.87 million for the quarter.

Hurco Companies Stock Down 6.6%

NASDAQ:HURC opened at $15.54 on Friday. The business’s 50 day moving average is $16.94 and its two-hundred day moving average is $16.92. Hurco Companies has a 52 week low of $13.19 and a 52 week high of $21.46. The company has a market cap of $102.87 million, a PE ratio of -6.64 and a beta of 0.63.

Institutional Investors Weigh In On Hurco Companies

A number of institutional investors have recently made changes to their positions in HURC. Ameriprise Financial Inc. lifted its stake in Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after purchasing an additional 1,733 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Hurco Companies by 23.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock worth $1,086,000 after purchasing an additional 13,296 shares during the period. George Kaiser Family Foundation increased its stake in Hurco Companies by 57.3% during the second quarter. George Kaiser Family Foundation now owns 44,968 shares of the scientific and technical instruments company’s stock valued at $850,000 after purchasing an additional 16,377 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Hurco Companies during the third quarter valued at $322,000. Finally, Brooklands Fund Management Ltd raised its holdings in shares of Hurco Companies by 9.3% during the fourth quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after purchasing an additional 26,000 shares during the period. 74.36% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wall Street Zen raised shares of Hurco Companies from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Hurco Companies in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

About Hurco Companies

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.